Business / Loganair sale put on hold
LOGANAIR has confirmed that its shareholders have decided to halt the process to find new owners for the airline.
Stephen and Peter Bond will remain as owners of the company for the foreseeable future, and are said to be “fully supportive of its progress and continued development – just as they have been over 25 years of engagement with Loganair”.
The pair commented that the “suspension of the sale process allows the company to complete the re-fleet programme and address the specific issues impacting the world-wide supply chain availability and costs”.
“There has never been a time-bound reason for the sale of Loganair, and we remain committed to the company until both the right time and custodian to acquire the company is chosen,” they said.
It was announced around this time last year that the Bond brothers were going to look at selling the company.
A spokesperson for the airline said in a statement to Shetland News: “Loganair continues to trade profitably and free of debt – and Loganair’s management team welcomes Stephen and Peter’s ongoing commitment to supporting the airline, with which they have been involved for over 25 years.”
The fleet renewal programme is expected to be completed by the first quarter of 2024, with the airline’s final four Saab 340 turboprop aircraft leaving the fleet following delayed delivery of larger ATR72-600 Next Generation turboprops.
A multi-million pound refurbishment programme and upgrade of on-board systems for Loganair’s 13 Embraer 145 Regional Jet aircraft is also underway and will be completed over the next 12 months.
Loganair operates flights across the Highlands and Islands, as well as within the UK and further afield too.
The company has been flying for around 60 years.
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